9911796707
TMI Blog2022 (2) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... such as change of company's status to Active and to restore and activate the DINs if applicable, and to intimate the bankers about restoration of the name of the company so as to defreeze the Bank Accounts of the Appellant Company. iii. To grant an order permitting the Appellant to file all the statutory documents within a time frame from the date on which its name is restored on the Register of Companies by the Registrar of Companies, Kerala. iv. Award costs of and incidental to this appeal. 2. The Appellant is a Company incorporated under the Companies Act, 1956 on 07/03/2011, as a company limited by shares, with the Registrar of Companies (ROC), Kerala having its Registered Office at 'Nazareth', KMRA-66, Kunnumpuram, Mundaikonam, Kinavoor-1, Thiruvananthapuram. The Corporate Identification Number of the Company is CIN-U70100KL2011PTC027850. The Appellant is specialized in undertaking Low Rise Building works with steel & concrete such as Individual Villas, Town Houses, Commercial Buildings, Industrial Structures, Labour Homes etc. 3 The authorised share capital of the Company is Rs. 1,00,000/- (Rupees One Lakh) and paid-up share capital is Rs. 1,00,000/- (Rupees One Lakh). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Sub-Section (5) of Section 248 may, if satisfied that the company was, at the time of its name being struck off, carrying on business or in operation or otherwise it is just that the name of the company be restored to the Register of Companies and order the name of the company to be restored to the Register of Companies, and the Tribunal may, by an order, give such other directions and make such provisions as deemed just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off from the Register of Companies. 8. It is also stated that in the light of the above cited provision, and the facts and circumstances of the case, it will be just and equitable, if the Company is restored to the Register of Companies, by exercising jurisdiction under Section 252(3) of the Companies Act and the Rules made thereunder. 9. Learned counsel for the Appellant argued that the delay in submitting the outstanding statutory documents for subsequent years was solely due to the adversities caused by Covid 19 pandemic situation and the appellant undertakes to submit the same, if the Company is revived and its name res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Section 248(1) of Companies Act has been initiated and requesting them to make objection, if any, within a period of 30 days. 13. Circumstances being so, the ROC stated that on verification of the documents of the subject company it was found that the company had not filed Balance Sheets and Annual Returns since 2016. It had been defaulting in its Annual Returns and Financial Statements for the financial years ending 31/3/2017 and 31/3/2018. Hence notice in Form STK-1 under Section 248(1) read with Rule 3 of the Companies (Removal of Names of Companies from the Register of Companies) Rule 2016 was issued to the company and its directors on 10/7/2019. Even though notice was issued by registered post, to the company and all its directors giving 30 days' notice period, no positive response had been received from them. Hence further proceedings were taken in pursuance of Section 248 read with Rule 7 of Companies (Removal of Names of Companies from the Register of Companies) Rule 2016 and Form STK-5 was published in Official Gazette on 24/8/2019. Newspaper publications in Form STK-5A was made in English and Malayalam dailies on 10/8/2019. Finally, the name of the company was struc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , at the time of its name being struck off, carrying on business or in operation or otherwise it is just that the name of the company be restored to the Register of Companies, order the name of the company to be restored to the Register of Companies, and the Tribunal may, by the order, give such other directions and make such provisions as deemed just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off from the Register of Companies. 17. Having satisfied with the reasons as mentioned in the Appeal and in the light of the above-cited provisions of Companies Act, 2013, we are is of the opinion that it would be just and equitable to order restoration of the name of the Company in the Register of Companies. Hence this Tribunal pass the following orders: - i. The Registrar of Companies, the Respondent herein, is ordered to restore the original status of the Appellant Company, as if the name of the company has not been struck off from the Register of Companies, and take all consequential actions like change of company's status from 'Strike off' to "Active" (for e-filing and to intimate the bankers ..... X X X X Extracts X X X X X X X X Extracts X X X X
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